he's also seek government enter session. mervyn king says he welcomes the proposals and wants prompt implementation. simon, welcome. these libor reforms, do they go far enough? >> there are a number of suggests which deal with the fact that there is a market benchmark and therefore there is a limit to how wide they will be involved in the process. so people might look at this and say we wanted to see the criminal sanctions, that was not the scope of this review. if there is one area where i'd be disappointed with the conclusions, it's that it hasn't been more aggression. if you're benefiting from libor as a rate, should you be contributing to it. although wheatley has asked for the fsa to have the power in the future to enforce consume poll more aggressive. >> it was the rate at which banks wouldn't rate to each other. is it going to retain after the scandal, as relevant as it was before? >> there is the traditional role of lie brother bor as the lendi. it's possible that it will be replaced by secured. but it's also incredi